Originally written by Jo Thornley on Small Business
To many people, becoming a business entrepreneur means setting up your own business and beginning to trade in your own right.
But while this is what plenty of entrepreneurs actually do, many others choose to buy an existing business as a means to becoming an independent business owner.
So which option is best? In reality, the answer usually depends upon your own circumstances and expectations:
Option one: buying a business
With buying an existing business, the first problem you may encounter is actually raising money for the purchase. By implication, buying a profitable business implies that it has a value. So, if you wish to take advantage of a ‘going concern’ as a source of income, you will need to be able to afford to do so.
However, even though raising money to buy any business is rarely plain sailing, you will find banks and other lenders much more likely to offer a loan against an existing business. Provided you have solid evidence that your chosen business for sale is profitable and forecast to remain in good business health, any lender should see this as a reasonable investment.
What this means is you must always ensure that any business
Monthly Archives: March 2020
Hot Business News Today
This Course Can Help You Earn the Coveted PMP Certification in 2020
by Entrepreneur Store • • 0 Comments
Hot Business News Today
Think Being Close With Your Employees Will Motivate Them to Go Above and Beyond? Think Again.
by Joel Carnevale • • 0 Comments
Having a great personal relationship with your employees doesn’t always equal a great working relationship.
Hot Business News Today
4 Ways to Make Sure Your Employees Are Your Best Asset
by Paul Blanchard • • 0 Comments
Hot Business News Today
Coronavirus: what are your sick pay obligations if your staff self-isolate?
by Anna Jordan • • 0 Comments
Originally written by Anna Jordan on Small Business
As coronavirus (COVID-19) becomes more widespread, the UK is taking a ‘self-isolate’ approach to prevent further spreading.
Health secretary Matt Hancock has sent information to employers stating that employees who are told to self-isolate should be entitled to statutory sick pay.
Below, we answer some key questions around self-isolation and statutory sick pay (SSP).
When would my employee be told to self-isolate?
Your employee may be told to self-isolate when they’ve been to a country with a high risk of contracting COVID-19.
At the time of writing, the government’s high-risk countries include:
Category 1
Wuhan city and Hubei Province (China)
Iran
Daegu or Cheongdo (Republic of Korea)
Any Italian town under containment measures
Category 2
Cambodia
China
Hong Kong
Italy: north
Japan
Laos
Macau
Malaysia
Myanmar
Republic of Korea
Singapore
Taiwan
Thailand
Vietnam
They can also be told to self-isolate if there’s a chance they’ve been exposed to the virus through contact with someone who has the virus or someone who’s recently been to a high-risk area.
Employees waiting for a COVID-19 test result will be instructed to self-isolate while they’re waiting for their results.
Keep up with advice from the government which is being reviewed and updated daily.
What happens when an employee self-isolates?
When someone is told to self-isolate, they should stay at home and avoid going to work, school
Hot Business News Today
How to Become a Successful Work-at-Home Grant Writer
by Editor • • 0 Comments
If you like to write or have any journalism or digital content experience, there are plenty of different freelance writing opportunities you can take advantage of. For someone who’s good at doing research and is looking to help companies grow and make a difference, I’d highly recommend getting into grant writing. Grant writing is quite […]
The post How to Become a Successful Work-at-Home Grant Writer appeared first on The Work at Home Woman | Legit Work From Home Jobs.
Hot Business News Today
SPONSORED: Best Business Features of the HP Elite Dragonfly
by Successful IBO • • 0 Comments
Are you considering the HP Elite Dragonfly laptop for your business? Here’s everything you need to know about the laptop before you buy.
Hot Business News Today
Escaping the nine to five: can I turn my passion into a business?
by Legal Zoom • • 0 Comments
Originally written by Legal Zoom on Small Business
Harley Davidson, Mattel, Disney. What do all these brands have in common? It’s not just that they are all iconic names that grew to dominate in their industry. Each of them also started out as a “garage business” as a way of escaping the nine to five.
By this we mean they were started by individuals who took a skill, talent, passion or hobby of their own and put it to work on a small scale. They then developed it into something much bigger. Doing what you love can certainly be a wonderful motivator. However, it takes more than passion alone to achieve success. So, what else needs to be thrown into the mix? This guide aims to help you find out.
Check your audience shares your passion
Harold Matson and Elliot Handler started out selling picture frames from a garage workshop. As an enjoyable sideline and a way of putting their talent to work, they had the idea of crafting dollhouse furniture from frame scraps. Soon, they found that the furniture was more profitable than the picture frames — and the toy specialist, Mattel, was born.
Escaping the nine to five
Whether it’s handmade toys, or amazing